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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedMay 15, 2025
DataAggregated Company Financials
Companies302
  • 7D1.3%
  • 3M0.4%
  • 1Y0.5%
  • YTD0.6%

The market is up 1.3% over the last week, with the Energy sector leading the way, up 4.8%. On the other hand, with a decline of 4.5%, the Communication Services sector is lagging behind. In the last 12 months, the market has been flat. Looking forward, earnings are forecast to grow by 7.7% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

Has the Norwegian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 15 May 2025NOK 3.8tNOK 3.3tNOK 314.5b12.2x12.2x1.2x
Sat, 12 Apr 2025NOK 3.6tNOK 3.3tNOK 318.7b11.5x11.4x1.1x
Mon, 10 Mar 2025NOK 3.8tNOK 3.3tNOK 329.6b11.6x11.6x1.2x
Wed, 05 Feb 2025NOK 3.9tNOK 3.4tNOK 336.8b12x11.5x1.1x
Fri, 03 Jan 2025NOK 3.8tNOK 3.5tNOK 340.2b11.5x11.2x1.1x
Sun, 01 Dec 2024NOK 3.8tNOK 3.4tNOK 334.9b11.5x11.3x1.1x
Tue, 29 Oct 2024NOK 3.8tNOK 3.4tNOK 326.8b10.9x11.6x1.1x
Thu, 26 Sep 2024NOK 3.7tNOK 3.3tNOK 307.1b11.1x12.1x1.1x
Sat, 24 Aug 2024NOK 3.8tNOK 3.3tNOK 300.6b11x12.7x1.2x
Mon, 22 Jul 2024NOK 3.9tNOK 3.3tNOK 302.3b11.4x12.8x1.2x
Wed, 19 Jun 2024NOK 3.8tNOK 3.3tNOK 285.4b11.2x13.5x1.2x
Fri, 17 May 2024NOK 4.1tNOK 3.3tNOK 285.1b11.8x14.2x1.2x
Sun, 14 Apr 2024NOK 4.1tNOK 3.4tNOK 301.2b11.7x13.5x1.2x
Tue, 12 Mar 2024NOK 3.8tNOK 3.3tNOK 287.8b11.2x13.1x1.1x
Thu, 08 Feb 2024NOK 3.8tNOK 3.5tNOK 353.2b10.6x10.7x1.1x
Sat, 06 Jan 2024NOK 4.1tNOK 3.5tNOK 344.5b10.9x11.9x1.2x
Mon, 04 Dec 2023NOK 4.0tNOK 3.6tNOK 356.9b10.4x11.3x1.1x
Wed, 01 Nov 2023NOK 4.0tNOK 3.6tNOK 364.7b10.8x11.1x1.1x
Fri, 29 Sep 2023NOK 4.0tNOK 3.8tNOK 416.4b10.6x9.7x1.1x
Sun, 27 Aug 2023NOK 3.9tNOK 3.7tNOK 411.9b10.5x9.4x1x
Tue, 25 Jul 2023NOK 3.9tNOK 3.7tNOK 448.3b10.7x8.6x1x
Thu, 22 Jun 2023NOK 3.9tNOK 3.8tNOK 504.5b11.4x7.7x1x
Sat, 20 May 2023NOK 3.9tNOK 3.8tNOK 556.1b11.7x7x1x
Mon, 17 Apr 2023NOK 4.0tNOK 3.7tNOK 499.5b11.9x8x1.1x
Wed, 15 Mar 2023NOK 3.9tNOK 3.8tNOK 550.8b11.7x7.2x1x
Fri, 10 Feb 2023NOK 4.1tNOK 1.9tNOK 554.1b11.7x7.4x2.1x
Sun, 08 Jan 2023NOK 3.9tNOK 3.6tNOK 490.9b11.8x8x1.1x
Tue, 06 Dec 2022NOK 4.1tNOK 3.6tNOK 485.0b11.6x8.4x1.1x
Thu, 03 Nov 2022NOK 4.1tNOK 3.6tNOK 482.9b11.4x8.4x1.1x
Sat, 01 Oct 2022NOK 3.8tNOK 3.5tNOK 398.1b11.4x9.4x1.1x
Mon, 29 Aug 2022NOK 4.3tNOK 3.2tNOK 365.9b12.4x11.9x1.3x
Wed, 27 Jul 2022NOK 4.1tNOK 3.0tNOK 301.5b12.5x13.6x1.4x
Fri, 24 Jun 2022NOK 3.8tNOK 3.0tNOK 295.4b12.5x13x1.3x
Sun, 22 May 2022NOK 4.1tNOK 2.9tNOK 249.3b13.4x16.4x1.4x
Price to Earnings Ratio

16.4x


Total Market Cap: NOK 4.1tTotal Earnings: NOK 249.3bTotal Revenue: NOK 2.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 10.9x202320242025
Current Market PE
  • Investors are optimistic on the Norwegian market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 12.2x which is higher than its 3-year average PE of 10.9x.
Past Earnings Growth
  • The earnings for Norwegian listed companies have grown 8.1% per year over the last three years.
  • Revenues for these companies have grown 4.0% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Norwegian Market?

NO Market1.30%
Healthcare5.71%
Utilities4.98%
Tech4.84%
Energy4.81%
Materials3.40%
Real Estate0.50%
Financials-0.13%
Industrials-0.17%
Consumer Discretionary-0.92%
Consumer Staples-1.04%
Telecom-4.51%
Sector PE
  • Investors favour the Tech sector the most for future growth even though it's trading below its 3-year average PE ratio of 411x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 33.2% which is higher than its past year's earnings decline of 8.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 55% over the next 5 years.
  • This is better than its past earnings decline of 18% per year.
  • In contrast, the Utilities sector is expected to see its earnings decline by 28% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
EQNR EquinorNOK 242.102.4%
+NOK 15.4b		-18.9%PE7.2xEnergy
AKRBP Aker BPNOK 241.909.1%
+NOK 12.8b		-9.5%PE9.1xEnergy
NHY Norsk HydroNOK 58.065.1%
+NOK 5.6b		-13.3%PE11.8xMaterials
VAR Vår EnergiNOK 29.565.9%
+NOK 4.1b		-15.2%PE11.5xEnergy
WAWI Wallenius WilhelmsenNOK 83.5012.8%
+NOK 4.0b		-29.4%PE3.3xIndustrials
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EQNR

NOK 242.10

Equinor

7D

2.4%

1Y

-18.9%

POL

NOK 73.00

Polaris Media

7D

-21.5%

1Y

1.4%

BWLPG

NOK 123.70

BWG

7D

19.5%

1Y

-29.7%

VENDA

NOK 347.00

Vend Marketplaces

7D

-2.1%

1Y

1.2%

Weak Statutory Earnings May Not Tell The Whole Story For Vend Marketplaces (OB:VENDA)

May 14
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AKRBP

NOK 241.90

Aker BP

7D

9.1%

1Y

-9.5%

Aker BP ASA Just Missed EPS By 33%: Here's What Analysts Think Will Happen Next

May 12
Aker BP ASA Just Missed EPS By 33%: Here's What Analysts Think Will Happen Next

VEI

NOK 148.20

Veidekke

7D

-7.8%

1Y

26.7%

kr150: That's What Analysts Think Veidekke ASA (OB:VEI) Is Worth After Its Latest Results

May 11
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NHY

NOK 58.06

Norsk Hydro

7D

5.1%

1Y

-13.3%

Norsk Hydro (OB:NHY) Is Paying Out Less In Dividends Than Last Year

May 11
Norsk Hydro (OB:NHY) Is Paying Out Less In Dividends Than Last Year

KOG

NOK 1,619.00

Kongsberg Gruppen

7D

-5.3%

1Y

90.9%

Results: Kongsberg Gruppen ASA Beat Earnings Expectations And Analysts Now Have New Forecasts

May 10
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WAWI

NOK 83.50

Wallenius Wilhelmsen

7D

12.8%

1Y

-29.4%

Earnings Miss: Wallenius Wilhelmsen ASA Missed EPS By 10% And Analysts Are Revising Their Forecasts

May 10
Earnings Miss: Wallenius Wilhelmsen ASA Missed EPS By 10% And Analysts Are Revising Their Forecasts

DNB

NOK 266.80

DNB Bank

7D

-1.7%

1Y

32.7%

Results: DNB Bank ASA Beat Earnings Expectations And Analysts Now Have New Forecasts

May 10
Results: DNB Bank ASA Beat Earnings Expectations And Analysts Now Have New Forecasts

SB1NO

NOK 179.00

SpareBank 1 Sør-Norge

7D

4.4%

1Y

28.8%

SpareBank 1 Sør-Norge ASA Just Recorded A 13% EPS Beat: Here's What Analysts Are Forecasting Next

May 10
SpareBank 1 Sør-Norge ASA Just Recorded A 13% EPS Beat: Here's What Analysts Are Forecasting Next

ORK

NOK 108.30

Orkla

7D

-8.5%

1Y

31.9%

TEL

NOK 149.80

Telenor

7D

-5.0%

1Y

17.0%

Analysts Are Updating Their Telenor ASA (OB:TEL) Estimates After Its First-Quarter Results

May 09
Analysts Are Updating Their Telenor ASA (OB:TEL) Estimates After Its First-Quarter Results

GJF

NOK 250.80

Gjensidige Forsikring

7D

-1.0%

1Y

36.5%

AKER

NOK 626.00

Aker

7D

6.6%

1Y

-0.8%

VAR

NOK 29.56

Vår Energi

7D

5.9%

1Y

-15.2%